Hi
I am looking to borrow €35,000 to pay of some existing loans and do some home improvements. Remortgaging isn't an option as I don't want to give up my tracker and secondly I'm in negative equity. What I was hoping to do was to secure the loan by way of a site I own, valued at a pesimistic €60,000. I plan on doing nothing with this for years, and was wonderingif the banks will accept this as security, as the value would exceed the loan.
Can't really as it was a gift from my father, and would like to think in a few years would be able to build something on it for a permanent res or something for the summer months
Personal loans are usually unsecured but either way you will probably have a problem getting approval from any bank if you re looking at consolidating other banks debt. They're not interested in that at the moment. I would suggest that you are better off to just keep paying down the debts you have, defer the home improvements and start a credit union account to give you some flexibility for any future borrowing.